The need to know Blockchain Basics: What is NEO?
A cryptocurrency based on “an open network for smart economy”.
NEO is a non-profit project that uses blockchain technology in order to create an ecosystem what it refers to as a “smart economy.” NEO seeks to fulfill a “smart economy” on the ledger of a distributed network. The smart economy that NEO is hoping to create takes individual user’s digital identities into consideration when looking to automate assets onto the blockchain using smart contracts.
According to NEO, this is: “Digital Assets + Digital Identity + Smart Contract = Smart Economy”.
NEO, which was rebranded from a company known as ‘Antshares’, is often referred to as the ‘Chinese Ethereum’ and has enjoyed a recent meteoric rise in popularity. The success owes partly to strategic partnerships with top-name brands – which aids in investor’s trust – and partly to funding from the Chinese government – which aids even further in investor’s trust.
Founded in 2014 and released…
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